Political Quotes

Janice Schakowsky: let me give the gentleman a couple of other examples that will kind of surprise him, I think. At least I do not know…

On the recordJuly 20, 2004
let me give the gentleman a couple of other examples that will kind of surprise him, I think. At least I do not know people who spend this kind of money. At high-end Bulgari stores, and I may not be pronouncing it right because I am not sure what they are, but ``at high-end Bulgari stores, meanwhile, consumers are gobbling up $5,000 Astrale gold and diamond `cocktail' rings made for the right hand, a spokeswoman says. The Italian company's U.S. revenue was up 22 percent in the first quarter. Neiman Marcus Group, Inc., flourishing on sales of pricey items like $500 Manolo Blahnik shoes, had a 13.5 year-over-year sales rise at stores open at least a year. By contrast some `same stores' sales at Wal-Mart Stores, Inc., retailer for the masses, were up just 2.2 percent in June. Wal-Mart believes higher gasoline costs are pinching its customers. At Payless ShoeSource, Inc.,'' and I know about Payless Shoes, ``which sells items like $10.99 pumps, June same-store sales were 1 percent below a year earlier. ``A similar pattern shows up in cars. Luxury brands like BMW, Cadillac, and Lexus saw double-digit U.S. sales increases in June from a year earlier. Sales of lower-tier brands such as Dodge, Pontiac, and Mercury either declined or grew in the low single digits.''
Said by
Janice Schakowsky
Democratic · Illinois

Editor's note · Context

Discussing consumer spending trends and contrasting luxury and mass-market retail sales.

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